Arrowhead Title, Inc.

 This is the time of year to enjoy holiday celebrations, shopping... and of course, property taxes! While property taxes aren't the most enjoyable thing about this holiday season, they are an important part of your obligations this time of year. If you're a little confused as to what personal property taxes are and why you should pay them, the best title company at the Lake of the Ozarks , Arrowhead Title is here to shed a little light on the topic. Read on to learn more! Personal Property Tax? First, let us start by defining what personal property taxes are. Personal property taxes are forms of taxation on what is deemed to be personal property. Personal property can be defined as any movable property that is not attached toa home or building, including motor vehicles, boats, and aircraft. The utilization/disbursement of these tax dollars may vary by state, but generally cover: Local school district The State The County Local fire department Local road district Local libraries...

'Tis the season for holiday gatherings, Christmas shopping, and - unfortunately - property taxes.  While it's safe to assume that no one looks forward to paying their property taxes, keeping up with these payments is absolutely essential.   Arrowhead Title, Inc.   is here to help you understand your property taxes and what happens if you fail to pay them. What Is Personal Property Tax? Personal property tax is a tax that is levied against tangible property that you owned at some point during the tax year. Examples of tangible property include houses,  land, additional properties, boats, waverunners, cars, trucks, RVs, and motorcycles. Exactly where and how your tax dollars will be used may vary slightly by state and county, but generally recipients may include: Local road districts The local library The State The County The local fire district The local schools Local senior citizens What Happens If I Don't Pay My Personal Property Tax? Tax paymen...

The title industry is vast and complex, with a unique vocabulary all its own. Last week,  Arrowhead Title, Inc.  took it upon ourselves to help you decipher some of our industry's terms so that you can feel more confident as you navigate your real estate transactions. This week, we're continuing the conversation with some additional terms you are likely to encounter while selling or  buying property at the Lake of the Ozarks .  Common Title Terms - Explained Quiet Title A quiet title suit is a legal process designed to cancel and/or "quiet" unenforceable claims that have created a  cloud on a title . Restrictive Covenant / Restriction A restrictive covenant is a limitation of the use of a specific piece of property. It may be imposed by deeds or other documents that appear within the chain of title. Settlement Also referred to as "closing" or "close of escrow," a settlement is the time during which the sale of a piece of real property is...

It's that time of year again! 'Tis the season for holiday gatherings, Christmas shopping, and - unfortunately - property taxes.  Most people have already received their 2016 property tax statements. While it's safe to assume that no one looks forward to paying their property taxes, keeping up with these payments is absolutely essential. Arrowhead Title, Inc. is here to help you understand your property taxes and what happens if you fail to pay them. What Is Personal Property Tax? Personal property tax is a tax that is levied against tangible property that you owned at some point during the tax year. Examples of tangible property include houses,  land, additional properties, boats, waverunners, cars, trucks, RVs, and motorcycles. Exactly where and how your tax dollars will be used may vary slightly by state and county, but generally recipients may include: Local road districts The local library The State The County The local fire district The local schools ...

We spend a lot of time discussing how title insurance is your first defense against complications with your future home, such as unknown liens against the property. This week, we wanted to take a closer look at some examples of these types of liens and the impact they can have on your property. The Basics of Property Liens Essentially, a lien is a claim against your property stating that you owe a certain creditor money for an unpaid debt. By placing the lien, the creditor secures the property as collateral against the debt. If the debt ultimately remains unpaid, the creditor may seize the property as a way of repaying the loan. Different Types of Property Liens Some liens are voluntary; the property owners knowingly and willingly place the lien on their home in order to take out a loan. This is commonly used when homeowners take out second mortgages in order to fund home improvements, debt consolidation, or a child's college education.  Most types of property ...